The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-03-09

ulaton fairly active Sales, 8, 064, 600 Blu futures
and $4,000 nu spot a No spring nominal i. at
81 a 96ac; No. red, 9oa oslo; No. red, 92a a
92ac in store, 93!c in elevator 925 93c Q. b. in
store, 94c (. o. b. afioat; No. red 94ac; No.
white. 96sc delivered; No. 2 red March. nominal
at &c. April 92a a 93sc closing at 924c; May,
934 94sc. closing at 93ac: June, 93a 942c, clos
ing at 93sc: July, 93s a 94ac. closing at 93sc; Au
gust, 93s a 94sc, closing at 93sc; September, 93s
Q9oc closing at 93sc; December, 91s 98zc, clos
ing at 97sc.
Corn-Spot firm but quiet; options a &c lower
closing heavy. Receipts, "A. 000 bu; exports, 81
312 bu; sales, 496 900 bu futures and $4,000 bu
spot; ungraded. 40 sole; No. 3, 49ac delivered;
50a a sic delivered: No. 2 March. 40 a 494c, clos
ing at Acc; April, Acc, closing at 49c; May, 494
49ac, closing at 49sc; June, 49s 49sc. closing at
49tc.
none; sales, 600 Blu futures and ia. 900 bu
spot. Mixed Western, 81 037c; white, 81 42c.
Hay quiet and unchanged.
Hops quiet and steady.
Coffee-Spot fair Rio dull at 14sc; options
lower and fairly active; sales So $50 bags; March,
IL 70 II 85c; April, u rs IL 90c: May, IL 70 a
II. Soc; June and July. IL. so a IL. 95c; August
and September, IL So 20 13c; October, November
and December, 1900 l3 05c; January. l3c.
Sugar firm, with moderate inquiry; refined firm.
Molasses dull so test, lSc. Rice firm.
Wool quiet aud barely steady domestic fleece,
30 CSC; pulled, IA a 35c: Texas. 9025c.
Pork firm but quiet. Cut meats firm; picked
bellies, 7s07sc. Lard 709 points higher
and fairly active; Western steam. spot 7.soc;
April, 7.7S 7.sOc; May, 7.s4 a l. 93c: June. 1877
0L 9oc; July 1872 1850; city steam. Soc
Butter firm and in fair demand. Cheese quiet.
Eggs Egg quiet and heavy: receipts, $3.50 packages;
Copper steady Lead firm. Tin steady. Other
articles unchanged.
CHICAGO March 8--The speculation in
wheat which has been steadily increasing for a
week past, leaped all bounds, to-day, and the
scene in the pit during both sessions was very
wild There was continuation of the upward
movement from the start, the first sales for May
delivery being made at 634c, or SC higher than
last nights closing followed by a quick advance
to 84sc with free buying all the way up This
was followed by sharp decline to 83ac. followed
by another upward movement, which was not
stayed until 86c had been touched. The dealing
was confined almost entirely to May delivery,
| the other options being neglected, and the out
ward evidences were such that squeeze" in
| that month was to be attempted. The excite
| ment in the pit during the advance was very
great Shorts" were thoroughly alarmed. and
| the short" interest is now acknowledged to be
| SO large that this advance of 81 cents from the
| low prices current last week meant tremendous
profits and consequent large losses among the
| spectators. 1t was conceded that the bull"
| leaders who could push wheat in the face of the
heavy selling and generally bearish tone of the
market for months, must be very powerful and
well equipped for fight. The advance of May
from S3aac to o6c was almost instantaneous. The
| opinions as to the power under the advance were
as many almost as the operators in the pit. Aft
er the top was touched, and before it. there was
| heavy selling by some of the powers identified
with the hull" side. The market sold off to
85Ac. and closed there at o'clock. In the after
nosu May rose again to 86se. but the offerings
suGdeE}g grew to be very large For time the
market was but one remove from panic. 1t
started in apparently stronas but Immediately
began breaking under enormous offerings, and
dropped by quarters. to $3.50. There was
Q combined solid rush to sell out If q
broker could not get what he wanted
for it, he took what he could get.
Around $3.50 the feeling became steader, and
prices recovered to sac, finally closing at 84sc
Everything except wheat was entirely neglected,
and the market, notwithstanding the violent
| fluctuations, closed 1c higher than last night.
On the curb late in the afternoon, the price
on that moneyed combination contemplates
squeeze" in wheat. but the interesting problem
| for SPECTATOR to decide now is ''Who is under
| wheatW The truth probably will be found that
| there are n number of cliques under it. There
| is Cincinpati, San Francisco, New York
and a Chicago clique under different sections of
| it. May and June were quoted at the same fig
ures at the opening, but May at one time COM
manded premium of 1ac over June, but this
was reduced to SC at the close
| The best prices in corn were had early, when
May was 404c. Later it got down to 39sc. but
! toward the close recovered little from this fig
ure, selling at 40sc There special feat
| ures in the market Pretty much all hog prod
| ucts developed into a slow and featureless sort
| of deal, but prices were firm and made little
| advance The leading frturas RANGED as follows: